HOTUSDT trade ideas
HOTUSDT Buy levels and targetsHolo (HOTUSDT) is on a strong 1D green candle, being on Higher Highs and Higher Lows since the July 13 Low. The 1D MA50 (blue trend-line) is now supporting and the 1D MA200 (orange trend-line) is the short-term target. After that, we need a clear break above the 0.5 Fibonacci retracement level to confirm the long-term trend shift from bearish to bullish. As a result buy either upon a 1D MA50 pull-back or a 0.5 Fib break-out. Notice that on the previous Lower High of the November 2021 Channel Down, the price got rejected near the 0.5 Fib.
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HOT/USDTThis is the futures contract pairing on HOT/USDT
R1 as you can see at roughly 0.008 (50% profit) and R2 (170% profit) which is at 0.014
The overall weekly chart is printing a descending triangle which could result in a bullish breakout. The stop loss position for this should be maintained at 0.004 because that means the bullish pattern is invalidated and there is more downside to go
With every position you take, you MUST learn to use a stop loss
HOTUSDT SellAll the required trading rules are on the chart. We are waiting for the price to retest a prior zone of interest. If the price fails to make a new higher high and a new higher low and we see the price return and close below 62% Fibonacci we will place a sell order. Until the rules are fulfilled, we don't trade.
TIME FOR HOT BREAKOUT? Signal shows possiblityIf we check Hot, then there is a possibility that it can get a new breakout.
This all-around the Techincal analysis
There is no guarantee in any market that a breakout will happen - make only study depending on your choice.
This is not a long-term expectation, but more take profit trade.
HOT - Scalp short with potential to add volume⚓️Reasons to take short
⭐️ BTC rose a lot
⭐️ Trendline is clear
⭐️ There is awesome trendline below
⭐️ Many touches
⭐️ Volume at top
⭐️ 70 ATR
Will enter when price squeezes to the level on 5m timeframe, the base will form and the strip will get faster.
If you don't understand the previous sentence, just use swing stop-loss 3-5%
Fix profit by parts:
1% - 1/3
2% - 1/3, stoploss to breakeven
What's left, hold to the maximum
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P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself and your loved ones